Glen Industries Ltd has delivered strong financial results for the quarter ended December 31, 2025, while making substantial progress on its expansion project funded through Initial Public Offering proceeds. The company's Board of Directors reviewed and noted the quarterly performance during their meeting held on January 29, 2026, highlighting sustained growth momentum across business segments.

Financial Performance Overview

The company reported impressive standalone sales performance for Q3FY26, with total revenue from operations reaching ₹4,673.57 lakhs. This represents a significant growth of approximately 19.1% compared to the corresponding quarter of the previous financial year. The strong performance was driven by consistent growth in domestic business operations and stable export performance across international markets.

The nine-month period ended December 31, 2025, also demonstrated strong performance with approximately 15.4% growth compared to the corresponding period of the previous financial year. This sustained growth trajectory reflects the company's effective business strategy and market positioning.

IPO-Funded Project Development

Glen Industries has achieved significant milestones in its expansion project funded through IPO proceeds. The project is progressing according to plan with multiple key developments across various phases of implementation.

Land Development and Regulatory Compliance

The company has successfully completed critical preliminary requirements for the project:

• Land Use Conversion: Successfully converted land use from agricultural to industrial purposes
• Site Preparation: Completed land filling work to prepare the site for construction
• Environmental Clearance: Obtained Consent to Establish (CTE) from the West Bengal Pollution Control Board
• Safety Approvals: Received Fire NOC and Fire Safety Report from West Bengal Fire & Emergency Services
• Power Infrastructure: Completed inspection by WBSMEDCL for bulk power supply arrangements

Construction and Infrastructure Development

The project has progressed to active construction phase with several key activities underway:

Strategic Outlook

The management has expressed confidence in continuing the growth momentum, supported by ongoing capacity expansion initiatives and introduction of new product lines. The company's dual focus on operational excellence and strategic expansion positions it well for sustained growth in upcoming quarters.

Glen Industries will continue monitoring project progress and will keep stock exchanges informed of material developments in compliance with SEBI regulations. The successful execution of both operational performance and expansion projects demonstrates the company's commitment to long-term value creation and market leadership.

Glen Industries Limited , a sustainable food packaging solutions manufacturer, has reported robust financial results for the first half of fiscal year 2026 and announced significant expansion plans. The company, which recently went public, is set to enhance its production capacity and diversify its product range.

Financial Highlights

For H1 FY26, Glen Industries reported:

The company's performance was primarily driven by high product volumes, especially in Thin Wall Food Containers, and efficiency improvements across product lines.

Expansion Plans

Glen Industries has unveiled an ambitious expansion strategy:

• Increasing Thin Wall Food Container manufacturing capacity from 7,986 metric tons to 21,095 metric tons per annum
• Introducing paper cups and paper food packaging products
• Adding plastic food containers through thermoforming
• Total investment of Rs 100 crore for the expansion

The new facility is expected to be operational by April 2026, with the company targeting:

• Incremental revenue of Rs 150-200 crores in FY27
• Additional revenue of Rs 300 crores in FY28
• Total turnover target of Rs 500 crores by FY28

Current Operations and Export Presence

Glen Industries currently operates from a 90,000 square feet facility in West Bengal and exports to over 30 countries across Asia, Middle East, Europe, USA, and Africa. The company's product portfolio includes Thin Wall Food Containers, PLA Straws, Paper Straws, and U-Shape Straws.

Debt and Financial Outlook

The company expects its total debt to reach approximately Rs 170 crores by FY28, including:

• Rs 50 crores for the new project
• Rs 120 crores in working capital

Management anticipates EBITDA margins to remain in the range of 18-19% post-expansion.

Market Dynamics and Growth Drivers

Glen Industries is capitalizing on several market trends:

1. Steady demand in the organized food consumption ecosystem, including takeaways, home delivery, and institutional catering
2. Shift of manufacturing from China to India (China Plus One policy)
3. Increasing focus on sustainable and eco-friendly packaging solutions

The company's management expressed confidence in its growth trajectory, citing these factors as key drivers for future expansion.

Conclusion

Glen Industries' strong H1 FY26 performance and ambitious expansion plans position it for significant growth in the coming years. The company's focus on capacity-led scale and product diversification, coupled with favorable market trends, presents a promising outlook for its future in the sustainable food packaging industry.